|Bid||0.00 x 14800|
|Ask||670.00 x 55900|
|Day's range||626.50 - 644.50|
|52-week range||511.00 - 672.50|
|PE ratio (TTM)||51.69|
|Earnings date||24 Feb 2016 - 29 Feb 2016|
|Forward Dividend & Yield||0.00 (0.00%)|
|1y target est||660.80|
Britain's biggest debt collector has lined up the boss of Wonga to steer it through a London flotation expected to value it at £1bn. Sky News has learnt that Andy Haste, the former RSA Insurance (LSE: RSA.L - news) chief executive, is to be unveiled as the new chairman of Cabot Credit Management. Insiders said that Cabot's owners, the New York-listed speciality finance firm Encore Capital Group and private equity group JC Flowers, would seek to sell part of their stakes in the flotation.
Spire Healthcare (Frankfurt: S00.F - news) said it decided to settle claims against the company relating to actions by Ian Paterson, a former breast surgeon currently facing jail-time for carrying out operations on patients he wrongly diagnosed. Ian Paterson, who was employed as a consultant by the Heart of England NHS Foundation Trust, and who also operated in Spire (Stuttgart: SIZ.SG - news) 's Parkway (NYSE: PKY - news) and Little Aston hospitals, was found guilty of the 20 charges he faced, the company said in April. The fund will be paid for by the company and the insurers of Ian Paterson, the company said.
Britain plans to alter the interest rate used to calculate how much in compensation should be paid by insurers for personal injuries, the Ministry of Justice said on Thursday, in a move to reduce the size of awards as well as the cost of insurance. Vehicle insurers' profits were dented and insurance premiums have risen since Britain in February unexpectedly cut the so-called Ogden discount rate to -0.75 percent from 2.5 percent previously.
Rising British motor insurance premiums helped Hastings (Frankfurt: 8HG.F - news) deliver a 22 percent rise in first half profit as people shopped around for policies, which the insurer said lifted its sales. The insurer, which mainly operates in the British motor insurance market, said its gross written premiums rose by 28 percent to 462 million pounds ($600 million) as a result of this switching during the six months ended June 30. Hastings said adjusted operating profit rose to 86.5 million pounds, from 70.8 million pounds a year earlier.
A lower than expected dividend payment hit shares of British motor and home insurer RSA on Wednesday, making it the worst performer in the FTSE 100 index and overshadowing above-forecast first-half profit. Best known in Britain for its More Than brand, RSA has been selling businesses and cutting costs under Stephen Hester, the former boss of Royal Bank of Scotland (LSE: RBS.L - news) who joined in 2014 to overhaul the insurance company. RSA said the restructuring was now complete.
Britain said on Wednesday it will introduce a civil liability bill to bring down the cost of insurance premiums by reducing the cost and quantity of whiplash claims. It will introduce a new fixed tariff ...
British insurer RSA is planning a subsidiary in Luxembourg to act as the headquarters of its European Union operations following Britain's decision to leave the bloc, the firm said on Monday. "While Brexit is not a major issue for RSA, the move allows the sensible reconfiguration of the branch network in light of the UK’s exit," RSA said in a statement. It added that it chose Luxembourg because it had "multi-national expertise", was "strategically located within RSA’s existing EU branch network" and had an experienced regulator.
London-listed insurer RSA reported a 14 percent rise in first-quarter net written premiums on Thursday and said operating profits were ahead of plan, sending its shares higher. Best known in Britain for its More Than brand, RSA has been selling businesses and cutting costs under Chief Executive Stephen Hester, former boss of RBS (LSE: RBS.L - news) , who joined in 2014 to overhaul the motor and home insurer. "We've made a very good start to the year," Hester said on a media call, though the company did not disclose profit numbers in a shortened first-quarter statement.
European shares steadied early on Thursday, pausing after a strong rally in the previous session, with strong earnings updates driving shares in Melrose Industries and Subsea 7. The pan-European STOXX ...
Forecast-beating 2016 results show British insurer RSA can thrive on its own, two years after rival Zurich Insurance (IOB: 0QP2.IL - news) walked away from a bid, it said on Thursday. Shares (Berlin: DI6.BE - news) in the home and motor insurer, best known in Britain for its More Than brand, rose more than 5 percent after it reported a strong performance last year across most of its main businesses in Britain, Ireland (Other OTC: IRLD - news) , Canada and Scandinavia. Chief Executive Stephen Hester, the former boss of British bank RBS (LSE: RBS.L - news) , has cut costs and sold assets since joining RSA in 2014 with a brief to turn it around following an accounting scandal at its Irish division.
European shares steadied near a 14-month high on Thursday, with a rally in stocks of companies like Barclays and RSA following their positive updates offsetting some weaker firms including Technicolor ...
Insurer RSA posted a 25 percent rise in 2016 operating profit to an above-forecast 655 million pounds ($814.49 million) due to strong performance in most of its core businesses, and raised its target for return on equity. Analysts in a company-supplied forecast had expected an operating profit of 626 million pounds. RSA, which has been undergoing a restructuring programme under ex-RBS (LSE: RBS.L - news) boss Stephen Hester, raised its target for return on tangible equity to 13-17 percent from a previous range of 12-15 percent, and said in a statement on Thursday it hoped to "perform in the upper part of this range".
EU capital rules for insurers need some tweaks but are not a deterrent to investment in infrastructure as some insurers' claim, the Bank of England said on Wednesday. Officials from Aviva (Other OTC: AIVAF - news) and Legal & General (LSE: LGEN.L - news) , two of Britain's biggest insurers told the British parliament's Treasury Select Committee last month that the EU Solvency II insurance capital law had made it costly to invest in infrastructure, a committee member said. A lack of attractive projects was the main reason for insurers' low investment in infrastructure, he said.
The former chief financial officer of UK insurer RSA's Irish business has been fined 35,000 pounds ($43,690) and banned for three years by Britain's accounting watchdog over a book-keeping scandal. The Financial Reporting Council (FRC) said on Wednesday it had fined Rory O'Connor and banned him for three years from the accounting profession for approving "materially inaccurate" financial statements. O'Connor also agreed to pay 18,000 pounds towards the watchdog's legal costs.